UofL & Jurich Reach A Multi-Million Dollar Settlement

posted by NewsRadio 840 WHAS -
May 18, 2018

A joint meeting of the University of Louisville Board of Trustees and the school's athletic association board results in approving a settlement with former athletics director Tom Jurich that will pay him more than $7 million.

The agreement also changes the reason for his exit from the university from "fired with cause" to "terminated without cause due to resignation."

The settlement calls for Jurich to get no less than $911,000 from his Deferred Compensation Plan and another $1.76 million to be paid out over the next eight years.

The deal also provides Jurich and his wife with health coverage until they become eligible for Medicare along with seat licenses for eight club level tickets and two premium parking passes for football and men's basketball for the next 20 years.

Joint Statement by the University of Louisville and former Athletic Director Thomas M. Jurich

Successful Resolution to the Dispute Agreed to by all Parties

LOUISVILLE, KY – Today the University of Louisville and its former Director of Athletics, Thomas M. Jurich, announced that a complete, mutual, and amicable resolution has been reached in the dispute arising from Mr. Jurich’s retirement from the University in October 2017.

The resolution was agreed to by all parties. The specifics are set forth in detail in a formal Settlement Agreement and General Mutual Release, which is being made available to the public concurrently with the release of this statement. The Board of Trustees of the University of Louisville and the Board of Directors of the University of Louisville Athletics Association, Inc. have confirmed that the parties concluded their relationship by mutual agreement, without cause, and acknowledge Mr. Jurich’s 20 years of devoted and loyal service.

“Everyone is pleased that this matter has been successfully resolved,” said UofL Board of Trustees Chairman, J. David Grissom. “All parties can move forward to begin the next chapter.”

“I have spent the better part of my career working with a dedicated team of athletes, coaches, and staff to elevate the University of Louisville’s Athletic Department and I am proud of what we accomplished which is well documented,” said Jurich.